Market Structure Insights
November 8, 2023
It’s November and I’m in jeans and flip-flops as I was in Denver in July. It’s 75 degrees. But in Aspen last week for a break around my birthday, it was decidedly wintry. So winter is coming. But winter ended suddenly in the stock market...
October 27, 2023
There are 1,500 companies reporting results this week, a flood of earnings releases all seeking to differentiate a story, a company. At the same time, the Market Structure EDGE quantitative test portfolio limited to just five stocks could find only four, signaling a shift...
October 18, 2023
Remember the movie Wag the Dog? Barry Levinson directs, David Mamet (a genius) writes, Robert DeNiro and Dustin Hoffman act. It’s about creating a distraction. It’s human nature. Probably a public company that might miss expectations pumps out a lot of product press releases beforehand....
October 11, 2023
Would one expect stocks to rise and oil to fall amidst a declared war in the Mideast? Our hearts, thoughts and prayers go out to Israel and our friends, colleagues and clients there (Ps 20:1, Ps 131:3). Mathematically? The market was primed to rise, driven...
October 4, 2023
Former SEC chair Mary Jo White once said in a speech, “The stock market exists for investors and issuers, and their interests must be paramount.” It’s a view widely intoned by regulators and on Capitol Hill where there is now no speaker in the House...
September 27, 2023
Why is there a 100% spread between SPY and stocks? SPY is the State Street S&P Depository Receipt, called a “spider” for the acronym SPDR, tracking S&P 500 stocks. It’s an exchange-traded fund (ETF). The term depository receipt reflects the roots of ETFs at State...